Verizon and Coinstar, owner of DVD kiosk service Redbox, have announced that they'll be launching a joint venture combining Redbox's product with a video on-demand streaming and download service from Verizon.

Planned for the second half of 2012, the venture joins the biggest provider of physical DVDs with Verizon's massive network.

Verizon will hold a 65 percent ownership share, with Redbox having a 35 percent ownership share at the outset.

We'll have more details on the joint venture later. The companies have a conference call scheduled for 9:30.